Newsroom
June 13, 2016
Long: Fed is eyeing global economy
The Federal Open Market Committee begins a two-day meeting today, and NAFCU Chief Economist and Director of Research Curt Long says committee members are closely watching risks facing the global economy.
"The Fed has made it pretty clear that that's where the majority of the risk to their forecast lies – the global economy," Long said in an interview with Bankrate.
Long was commenting on the factors which make an interest rate hike unlikely during this month's meeting. Bankrate reported that economic unease abroad is one of the reasons the FOMC will likely wait to implement a rate hike, in addition to the disappointing employment numbers from May.
Last week, Long called the jobs report "an unqualified dud" – the report showed the unemployment rate dropped to 4.7 percent because the labor force shrunk by 458,000 workers.
Long has said July remains a possibility for another interest rate hike, but that it is more likely the FOMC would wait until the third quarter of 2016 or later.
"The Fed has made it pretty clear that that's where the majority of the risk to their forecast lies – the global economy," Long said in an interview with Bankrate.
Long was commenting on the factors which make an interest rate hike unlikely during this month's meeting. Bankrate reported that economic unease abroad is one of the reasons the FOMC will likely wait to implement a rate hike, in addition to the disappointing employment numbers from May.
Last week, Long called the jobs report "an unqualified dud" – the report showed the unemployment rate dropped to 4.7 percent because the labor force shrunk by 458,000 workers.
Long has said July remains a possibility for another interest rate hike, but that it is more likely the FOMC would wait until the third quarter of 2016 or later.
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